Source: Authors’ calculations from data collected for the Fourth, Fifth, Eighth, Ninth, and Twelfth Federal Reserve Districts, and for the State of Iowa.
Direct correspondence to: Eric Hilt at ehilt@wellesley.edu, Department of Economics, Wellesley College, Wellesley MA 02481;
Wendy M. Rahn at rahnx003@umn.edu, University of Minnesota, 1414 Social Sciences Building, 267 19th Ave S., Minneapolis MN 55455.